#BinanceTurns8

BNB edges toward key resistance as 1.59 token burn fuel bullish momentum.

BNB price is testing key resistance near $700, signaling a potential breakout fueled by a recent token burn and rising active addresses.

Binance Coin has been trading within a range between approximately $630 and $690 since early May, with a brief drop to the $600 level on June 23 that quickly recovered. That drop tested the lower trendline support, reinforcing the ascending triangle pattern, which features a relatively flat horizontal resistance around $685 – $700. The price is currently testing this level, trading at $686, after wicking as high as $695 today.

This time, BNB may be poised for a breakout, supported by multiple bullish catalysts. First, BNB Chain recently completed its 32nd quarterly token burn, permanently removing 1.59 million BNB from circulation. This reduction in supply is typically seen as a bullish driver, as it increases the token’s scarcity.

Secondly, BNB’s active addresses have been rising steadily since mid-April, climbing from around 500,000 to over 1 million by early June, according to Glassnode data. While there has been a slight pullback recently, current levels remain elevated — hovering between 900,000 and 1 million — well above the March lows of around 400,000.#TrendTradingStrategy #ShariaEarn #Write2Earn #BNBMoon $BNB